BUSI 400 Read & Interact Dess, McNamara, Eisner, & Lee Chapter 1 solutions complete answers

BUSI 400 Read & Interact Dess, McNamara, Eisner, & Lee Chapter 1 solutions complete answers 

 

In order for strategic objectives to be meaningful they need to be ______. (Check all that apply.)

 

Which of the following are true of behavioral controls? (Check all that apply.)

 

Vision statements represent ______.

 

A firm's hierarchy of goals include its ______. (Check all that apply.)

 

True or false: The most effective organizations have strong leaders at the top who make all the decisions that the rest of the organization then carries out.

 

A(n) ______ includes both the company's purpose as well as the basis of competition and competitive advantage.

 

Which of the following are characteristics of a well-written organizational vision statement? (Check all that apply.)

 

A firm's vision, mission, and strategic objectives form a hierarchy of       .

 

______ requires that organizations continually monitor and scan the environment and respond to threats and opportunities.

 

Which of the following are social responsibility expectations that go beyond a firm's product and service quality? (Check all that apply.)

 

Business-level strategy is concerned with how companies ______. (Check all that apply.)

 

Firms must exercise which of the following two types of strategic controls? (Check all that apply.)

 

Strategy implementation involves ______. (Check all that apply.)

 

Which of the following are examples of business-level strategies? (Check all that apply.)

 

Managers are analyzing the firm's ______ when managers are studying its competitors.

 

Strategies often fail when managers fail to do which of the following? (Check all that apply.)

 

True or false: Intended strategy rarely survives in its original form.

 

Which of the following statements about the strategic management process is true?

 

Studies show that managers often focus on short-term goals to the detriment of creating ______ shareholder value.

 

______ analysis is the starting point of the strategic management process and includes the advanced work that must be done to effectively formulate and execute strategies.

 

Which of the following are stakeholder groups that managers should consider when making decisions? (Check all that apply.)

 

Organizational goals and objectives should represent what is best for ______.

 

Which of the following are key attributes of strategic management? (Check all that apply.)

 

Strategic management of an organization entails which of the following ongoing processes? (Check all that apply.)

 

According to the        view of leadership, the leader is assumed to be the most important element in a company's success or failure.

 

Which of the following are evaluated during the analysis process of strategic management? (Check all that apply.)

 

A firm’s vision, mission, and strategic objectives are used to develop specific goals, which form the basis for its    .

 

The ___ view of leadership assumes that the organization's leader is the driving force in the success or failure of the business.

 

Managers must take a(n) ______ view of the organization and assess how functional areas and activities fit together so that they organization can achieve its goals and objectives.

 

Strategic management adheres to the perspective that what might be seemingly ideal for one functional area of an organization might not be in the best interest of the total organization. This perspective is known as    .

 

When formulating international strategies, managers must determine the best ______ strategy and how to attain a competitive advantage.

 

The     view of leadership assumes that outside factors, over which the leader has limited influence, positively or negatively affect a firm's success.

 

A firm's hierarchy of goals includes its    .

 

Which of the following are reasons vision statements sometimes fail?

 

Social responsibility is the expectation that businesses or individuals will strive to    .

 

In strategic management, effectiveness can best be described as    .

 

Analyzing a firm's strengths and relationships within its value chain can uncover potential sources of its competitive    .

 

Which of the following are characteristics of a well-written organizational vision statement?

 

Which of the following statements regarding corporate-level strategy's focus are correct?

 

Corporate governance is the relationship among ______ in determining the direction and performance of corporations.

 

A firm's _____ assets, such as patents, are becoming increasingly important to creating a firm's competitive advantage.

 

Which of the following are key attributes of strategic management?

 

The triple bottom line measures the performance of which of the following?

 

_____ strategies are those organizational decisions that follow from analysis and rarely survive in their original forms.

 

The ______ view of stakeholder management views the management process as groups competing for the organization's resources.

 

In terms of analyzing the external environment of the firm, the industry environment consists of ________ and other organizations that may threaten the company's success.

 

Efficiency, in terms of strategic management, can best be described as     .

 

Strategies often fail when managers fail to do which of the following?

 

What are the four levels of a company's strategy formulation?

 

Managers execute or implement their decisions as ______ in the third step of the strategic management process.

 

Analyzing the firm’s     environment, such as operations, may uncover potential sources of competitive advantage.

 

Which of the following statements about operational effectiveness are correct?

 

Which of the following are social responsibility expectations that go beyond a firm’s product and service quality?

 

The     process consists of the analyses, decisions, and actions an organization undertakes in order to create and sustain competitive advantages.

 

In order for strategic objectives to be meaningful they need to be    .

 

Corporate-level strategy focuses on    .

 

Sound strategies are of no value if they    .

 

Which of the following are analyzed during the analysis process of strategic management?

 

Which of the following are examples of business-level strategies?

 

Match the type of leader (on the left) with the corresponding description (on the right).

 

The second step in the strategic management process is    .

 

Which of the following is the most inclusive term for the individuals, groups, and organizations that have a claim in the success of an organization?

 

     strategy is a combination of deliberate and emergent strategies.

 

Which of the following must a firm's strategy be consistent with?

 

Financial markets often place an emphasis on managers meeting _______ performance goals.

 

Which of the following are needed in order for entrepreneurial initiatives to be successful?

 

Strategic management is directed toward the organization’s overall organizational     and    .

 

Strategic management is directed toward a company’s    .

 

Match the strategic management process with its corresponding term.

 

Which of the following statements regarding behavioral controls are correct?

 

    statements, like vision statements, should be massively inspiring to an organization’s main stakeholders and include the purpose of the organization, its scope of operations, and the basis of its competitive advantage.

 

The essence of strategic management is the study of why some firms    .

 

1.
`in strategy formulation, ______ activity is designed to create new value and is a major engine for economic growth
 
 
2.
the challenge managers face of both aligning resources to take advantage of existing product markets and proactively exploring new opportunities
 
 
4.
business-level strategy is concerned with how companies
 
 
5.
the relationship among various participants in determine the direction and performance of corporations. The primary participants are the shareholders, management and the board of directors
 
 
7.
demands for greater corporate responsibility by various groups insist that companies go beyond product and service quality and focus on issues such as
 
 
8.
tailoring actions to the needs of an organization rather than wasting effort, or "doing the right thing"
 
 
9.
performing actions at a low cost relative to a benchmark, or "doing things right"
 
 
10.
Examples of business-level strategies include
 
 
11.
guide ideas, create a learning infrastructure and call for action
 
 
13.
External control view of leadership
 
 
16.
firms must exercise which of the following two types of strategic controls?
 
 
17.
organizational goals ranging from, at the top, those that are less specific yet able to evoke powerful and compelling mental images, to, at the bottom, those that are more specific and measurable
 
 
21.
strategy in which organizational decisions are determined only by analysis
 
 
23.
have little formal authority, inspire others with conviction and clarity of ideas
 
 
24.
have significant profit-and-loss responsibility
 
 
25.
managers must consider their company's _____and ________ operations during the decisions step of the strategic management process
 
 
26.
managers must determine how to create an _______ advantage in the marketplace to be successful over the long-term
 
 
29.
a set of organizational goals that includes the purpose of the organization, its scope of operations, and the basis of its competitive advantage
 
 
30.
is performing similar activities better than rivals do
 
 
31.
performing similar activities better than rivals
 
 
32.
organizational vision statements are
 
 
33.
an organization's vision, mission, and strategic objectives are analyzed during the strategic management process'
 
 
 
 
 
 
 
 
 
 
 

35.
strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource constraints, and/or changes in managerial preferences
 
 
36.
situations in which the leader is the key force in determining an organization's success-- or lack thereof
 
 
37.
the expectation that businesses or individuals will strive to improve the overall welfare of society
 
 
39.
individuals, groups, and organizations that have a stake in the success of the organization, including owners (shareholders in a publicly held corporation), employees, customers, suppliers, and the community at large
 
 
42.
strategic management is directed toward the organization's
 
 
43.
Strategic management of an organization entails which of the following three ongoing processes?
 
 
44.
a set of organizational goals that are used to operationalize the mission statement and that are specific and cover a well-defined time frame
 
 
45.
the ideas, decisions and actions that enable a firm to succeed
 
 
46.
analysis is the starting point of the strategic management process and includes the preparations that must be done to effectively formulate and execute strategies
 
 
47.
study of firms' external and internal environments and their fit with organizational vision and goals
 
 
48.
decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain competitive advantages
 
 
49.
actions made by firms that carry out the formulated strategy, including strategic controls, organizational design, and leadership
 
 
50.
the third step of the strategic management process is the
 
 
51.
assessment of a firm's financial, social, and environmental performance
 
 
53.
U.S. financial markets place a great deal of pressure on executives to focus on ______ profits even when they should focus on the long-term financial health of the company
 
 
56.
organizational goals that evoke powerful and compelling mental images
 
 
 
 
 
 
 
 
 

60.
which of the following are examples of stakeholder groups that managers should consider when making decisions?
 
 
63.
which of the following is the most inclusive term for individuals, groups, and organizations that have a claim in the success of an organization?
 
 
67.
which of the following statements regarding strategic management is true?
 
 
 
 
 
 
 
 
 

 

1.
according to Henry Mintzberg, the final realized strategy of a firm is
 
 
2.
ambidexterity in a strategic context refers to the challenge for a manager to
 
 
4.
_____ are a set of organizational goals that are used to operationalize the mission statement and cover a well-defined time frame
 
 
5.
at what level in the organization should the strategic management perspective be emphasized?
 
 
6.
business-level strategy is concerned with how companies
 
 
7.
competitive advantages that are unique, valuable, and difficult for rivals to copy are likely to make these advantages
 
 
9.
corporate-level strategy focuses on how to create a competitive advantage
 
 
10.
corporate level strategy focuses on what businesses to compete in and
 
 
11.
demand for greater corporate responsibility by various groups insist that companies go beyond product and service quality and focus on issues such as
 
 
12.
During the analysis step of the strategic management process managers are concerned with the company's
 
 
13.
during the ______ step in the strategic management process managers answer two questions: what industries should we compete in and how should we compete in those industries?
 
 
14.
the essence of strategic management is the study of why some firms
 
 
15.
example of business-level strategies include
 
 
17.
firms must be aware of goals other than short-term profit maximization. One area of concern should be social responsibility, which is the
 
 
18.
firms must exercise which of the following two types of strategic controls?
 
 
19.
the four key attributes of strategic management include all of the following except
 
 
20.
guide ideas, create a learning infrastructure, and call for action
 
 
21.
have little formal authority, inspire others with conviction and clarity of ideas
 
 
22.
have significant profit-and-loss responsibility
 
 
23.
Hewlett-Packard's failure and success under the leadership first of Carly Fiorina and then of Mark Hurd was sad to be a direct result of the quality of leadership of each of these CEOs. According to the text, this would be an example of the "romantic" perspective of leadership
 
 
26.
in strategy formulation, _____ activity is designed to create new value and is a major engine for economic growth
 
 
27.
_____ is performing similar activities better than rivals do
 
 
28.
management innovations such as total quality, benchmarking, and business process reengineering cannot lead to sustainable competitive advantage because
 
 
29.
management, the board of directors, and _______ are the primary participants in corporate governance
 
 
30.
managers are analyzing the firm's ________, when managers are studying its competitors
 
 
33.
Northrup Grumman saved $2 million in energy costs at a single facility by installing reflective roofs and fluorescent lighting, replacing old equipment, and making minor temperature and humidity-level adjustments. This is an example of the benefit of
 
 
34.
the only stakeholders that matter for an organization are the shareholders
 
 
35.
organizational goals and objectives should represent what is best for
 
 
36.
organizational vision statements are
 
 
37.
an organization is responsible to many different entities. In order to meet the demands of these groups, organizations must participate in stakeholder management. Stakeholder management means that
 
 
38.
the ROI on sustainability efforts can be difficult to quantify because
 
 
 
 
 
 
 
 
 
 
 

41.
stakeholders are
 
 
42.
stakeholder symbiosis is in direct contrast with ______ thinking
 
 
43.
______ statements, like vision statements, should be massively inspiring to an organization's main stakeholders and include the purpose of the organization, its scope of operations, and the basis of its competitive advantage
 
 
45.
strategic management is directed toward the organization's
 
 
46.
strategic management of an organization entails which of the following three ongoing processes?
 
 
48.
strategies often fail when managers do not
 
 
49.
strategy ________ consists of decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain a competitive advantage
 
 
50.
strategy formulation at the business level addresses best how to compete in a given business
 
 
51.
strategy implementation involves
 
 
54.
the three primary participants in corporate governance are
 
 
56.
the two opposing ways of examining stakeholder management are called ____ and _____
 
 
57.
Us. financial markets place a great deal of pressure on executives to focus on _______ profits even when they should focus on the long-term financial health of the company
 
 
61.
the vision and mission statements of a company set the overall direction of the organization. Strategic objectives serve what role?
 
 
62.
WellPoint health network states: Wellpoint will redefine our industry through a new generation of consumer-friendly products that put individuals back in control of their future. this is an example of
 
 
 
 
 
 
 
 
 

64.
when managers refer to their organizational boundaries they mean both _____ and ______ boundaries
 
 
66.
which of the following are examples of stakeholder groups that managers should consider when making decisions?
 
 
70.
which of the following is an intellectual asset of a firm?
 
 
71.
which of the following is not an example of a financial strategic objective?
 
 
75.
which of the following statements about vision statements are correct?
 
 
77.
which of the following statements regarding strategic management is true?
 
 
 
 
 
 
 
 
 

 

2.
________ are a set of organizational goals that are used to operationalize the mission statement and cover a well-defined time frame.
 
 
6.
Firms must exercise which of the following two types of strategic controls?
 
 
13.
_________ statements, like vision statements, should be massively inspiring to an organization’s main stakeholders and include the purpose of the organization, its scope of operations, and the basis of its competitive advantage.
 
 
14.
Strategic management is directed toward the organization's
 
 
15.
Strategic management of an organization entails which of the following three ongoing processes?
 
 
16.
Strategies often fail when managers do not
 
 
17.
Strategy ______ consists of decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain a competitive advantage.
 
 
21.
Which of the following are examples of stakeholder groups that managers should consider when making decisions?
 
 
23.
Which of the following is an intellectual asset of a firm?